Question

Tim borrows $500 from Moby to buy a X-Box. He agrees to pay him back $15 every month. Write an equation to find the balance, B left after m months?

Answer 1

`B=$500-mmxx($15)/mto` where `mm=`number of months

Assuming Moby does not charge interest other than sharing the use of the X-box.

Explanation:

The amount to pay back `=$500`
Each payment `=$15` every month or `($15)/m`

Payment plan is: `Pp=mmxx($15)/m`

where `mm=`number of months

Balance for any month is then: `B=$500-Pp`

So: `B=$500-mmxx($15)/mto` [ANS]

Then after 6 months, `B=$500-mmxx($15)/m`

`B=$500-(6)cancelmxx($15)/cancelm`

`B=$500-($90)=$410`